₦airaland Forum

Favourchris:
waow, when real price come, they buy high and sell high... is a win-win for them , nigerians are bearing the pain not them. this is just s dividend of agbado government

You didn't understand him. A case at hand was when the $ was going up almost everyday , the prices of goods were going up too. So if a trader buys like a bag of rice for 50k & sells at 55k , on getting to the market the next day to restock the product the price has risen to 55k. So it's as if he didn't make profit that's what he was trying to say. Because the trader cannot spend the 5k profit and if he does he would not be able to restock.

GOD PUNISH THEM ALL with fire AND RECOVER OUR CRUDE FROM OIL CARBALs AND MAFIAS IN GOVTS.

ivolt:
Lose everything?

Oil marketers are not gamblers, they never lose.
There is no hidden real market anywhere.
If NNPC as the current sole importer decide to jack up the landing cost,
the marketers will simply add it to the pump price which consumers have
no choice but to buy..

I'm sure oil marketer eat oil, drink oil n use oil to cover themselves

NzogbuNzogbu:
Make we hear word

Subsidy is gone why is the media now hyping this again when we haven't seen the results except suffering

Kerosene price was covertly raised from N140 to N850, while diesel was raised from N220 to N900 by Buhari till date with no one accounting for the gains made from the 300% increment.
Now the same APC is going to fuel to increase it like others.
If nothing has been achieved from diesel and kerosene pump price increment for over 2 years now , is it only fuel pump price increment that will make a difference?

Tareq1105:
They would vomit it.

Just leave them, a time is coming when it would take them 3 weeks to sell one tanker of 45,000 litres.

Now I'm in my house with my family, no waka waka up and down like before. No need to burn fuel. I used to worship at Goshen Keffi Abuja Road but I've changed to Nyanya church. Children school would be changed next session. No more paying for school bus. Na so e be now. Let's see who dey buy fuel like before. Even my neighbor doesn't run Generator since Wednesday. I used to charge my phone there. Before he would tell you he couldn't sleep without fan on. I've not ask him why he hasn't been putting on his generator.

Structural adjustment program all over again

They keep telling us to adjust our belts and brace up

But they fail to realise that th3 waist is not even there to hold on to the belt

DaddyCoool:
Nobody can be this mumu. Let me simplify it for you:

We bought at N3, we were selling at 4 but now we are suddenly selling same at 10, tripling our profit. That's money in the bank! If we decide to continue after selling out, we'd be like any other person just entering the market - we'd buy at the new price of 8 and sell at 10! How does that affect the profit we made when we bought at 3 and sold at 10??!!

Maybe you are a bit of a mumu too!

The point that is being made is that if the guy refused to increase his price and sold at N4 on the basis of not cashing out as you people call it, where would the N8 to buy new stock even come from, if the guy has only N4 in the bank after selling his old stock?

There is a difference between solvency and profitability. And solvency is actually more important. Because unless you can pay your bills, you may not even stay in business long enough to make profit.

DaddyCoool:
What has new product got to do with the profit they ALREADY made?? How u folks reason eh. Someone made N1B on a trade he just completed, he can decide to do WHATEVER he wishes with the money. Is there any law that says he must buy new product or what amount? It is his money. Full stop!

Does he exist just to make a one off profit and then retire for ever? Won't the business continue? Won't he require cash to buy again. This your lack of understanding off accounting concepts like solvency, liquidity, working capital etc is why many businesses in Nigeria die quickly.

If I sell to everybody on credit, technically I'm profitable, but if I then can't pay someone else I am owing because my money is tied up with other people, I can be sued and declared bankrupt and my busines wound up.

That's the difference between cash flow and profitability for you!

COMPAQ:
Maybe you are a bit of a mumu too!

The point that is being made is that if the guy refused to increase his price and sold at N4 on the basis of not cashing out as you people call it, where would the N8 to buy new stock even come from, if the guy has only N4 in the bank after selling his old stock?

There is a difference between solvency and profitability. And solvency is actually more important. Because unless you can pay your bills, you may not even stay in business long enough to make profit.

Hard to believe someone is reasoning like this.
WHO said anything about them selling for N4?? The thread is about them making a killing. And some mumu said they're not making a killing because they'll use the money to buy at a higher price.
How did selling at the old price enter the conversation ??

COMPAQ:
Does he exist just to make a one off profit and then retire for ever? Won't the business continue? Won't he require cash to buy again. This your lack of understanding off accounting concepts like solvency, liquidity, working capital etc is why many businesses in Nigeria die quickly.

If I sell to everybody on credit, technically I'm profitable, but if I then can't pay someone else I am owing because my money is tied up with other people, I can be sued and declared bankrupt and my busines wound up.

That's the difference between cash flow and profitability for you!

You are confusing yourself.
Here's an anology that won't confuse you:
Say your poor mammy went to the market to sell 2 chickens she bought for N20 each hoping to make a N5 profit. But on getting to the market she found chicken was now N1M.
So she sold and made a profit of almost 2milion - automatically making her the richest person in the village.
The fact that she has to go back to buy chicken at N1M for resale, will that in ANY WAY change the fact that she is now the richest person in town??
Mumu!
Same mumuism applies to this guy below

TheMostComplex1:
You didn't understand him. A case at hand was when the $ was going up almost everyday , the prices of goods were going up too. So if a trader buys like a bag of rice for 50k & sells at 55k , on getting to the market the next day to restock the product the price has risen to 55k. So it's as if he didn't make profit that's what he was trying to say. Because the trader cannot spend the 5k profit and if he does he would not be able to restock.

Luckylife:
90% of blames should go to federal government which is the only constitutional body vested with the authority of the masses to make things work for the general good of the citizens. They are the only body with the power to stop any public or private company from exploiting the citizens. Incompetency, rigging, unworthy,greed and corruption are the Major factors in a government that makes public and private company exploit innocent citizens.

How are innocent citizens exploited here? If the marketers sell the old stock at the former price, how will then then restock at the new price?
As aptly explained, if a truck of product was 8m, it now cost 22m.
If you are the marketer, will you continue selling at the old price? Assuming with your profit and overheard you sell 9m. Where will you see the balance 13m to enable you restock at the new price?

solmusdesigns:
That's corruption tho..

It actually is....but they won't agree...

nedekid:
How are innocent citizens exploited here? If the marketers sell the old stock at the former price, how will then then restock at the new price?
As aptly explained, if a truck of product was 8m, it now cost 22m.
If you are the marketer, will you continue selling at the old price? Assuming with your profit and overheard you sell 9m. Where will you see the balance 13m to enable you restock at the new price?

Go study the advantages of capitalism in a corrupt government. The burden are usually bored by the innocent citizens . I doubt you comprehend the full points a made here, check the percentage of blames I gave the government and that of marketers! Ok let me give another point you didn't consider before replying, the masses are at the mercy of marketers who decides the profit margins on their products. I learnt that some where in Ebony State PMS were sold at the rate of ₦1000 to ₦1200 . Are you justify this particular marketer with your above points?

Eriokanmi:
Stop thinking upside down..so, if they buy at a higher cost later, they'd also sell at a low cost? They're selling the old stock at the current rate at the moment. Many of them have tank farms which cant be exhausted in one month. Tinubu isn't as intelligent as most of you guys think. He should have said there would be removal of subsidy but they'd have to sit down and discuss with the marketers. Then he'd tell the stakeholders to allow them exhaust old stock and create artifical scarcity for a few days, then he'd have spent like a month in power. Suddenly, he'd just announce the new rate. Then the marketers would have been a serial laser. He's only impoverishing the poor with that stupid speech be made. Who's now groaning...the marketers who are cashing out big time or you wey vote tinubu wey dey buy fuel for 500 naira a liter?

While I don't support the subsidy removal I'm the first place, how is it better to create more pain with scarcity and suddenly hike prices? Is it not same result but with even more pain in just a month's time?

DaddyCoool:
You are confusing yourself.
Here's an anology that won't confuse you:
Say your poor mammy went to the market to sell 2 chickens she bought for N20 each hoping to make a N5 profit. But on getting to the market she found chicken was now N1M.
So she sold and made a profit of almost 2milion - automatically making her the richest person in the village.
The fact that she has to go back to buy chicken at N1M for resale, will that in ANY WAY change the fact that she is now the richest person in town??
Mumu!

Clearly we are arguing two different things. You seem fixated on the one off event of an exceptional gain, while I am focused on the going concern of a business. Cheers.

Luckylife:
Go study the advantages of capitalism in a corrupt government. The burden are usually bored by the innocent citizens . I doubt you comprehend the full points a made here, check the percentage of blames I gave the government and that of marketers! Ok let me give another point you didn't consider before replying, the masses are at the mercy of marketers who decides the profit margins on their products. I learnt that some where in Ebony State PMS were sold at the rate of ₦1000 to ₦1200 . Are you justify this particular marketer with your above points?

Except that filling station was in a remote party of town, otherwise why would a rational person buy there if NNPC station are selling for N530? I'd be happy to drive 20km to NNPC station to buy at N530 than the N1000.

The laws of demand and supply will quickly sort that out. Within a week when no one buys his N1000 petrol he will reduce the price.

COMPAQ:
Clearly we are arguing two different things. You seem fixated on the one off event of an exceptional gain, while I am focused on the going concern of a business. Cheers.

Going concern my foot.
Below is the post that started the argument